Acumen research and consulting estimates that the global vehicle anti-theft system market is anticipated to reach market size of around US$ 20,850 Mn by 2028 and is anticipated to grow at a CAGR of around 7.4% in terms of revenue during the forecast period 2021 - 2028.
Vehicle theft systems are mounted on vehicles that allow an illegal approach to be avoided, health and protection to be assured and robbery to be stopped. Vehicles' anti-Theft systems include a variety of anti-theft system items such as a steering barrier, warning, central blocking systems, immovabile systems, automatic keyless control systems and biometric tracking tools, including a face recognition, Global Positioning Systems and GPS (GPS), global mobile communication system (GSM).
The dramatic rise in the number of various types of cars, troubling cases of auto burglary and increased sensitization on anti-theft vehicles is a core aspect of increasing demand on the global market for anti-theft vehicles. Stopping vehicle robbery, particularly in common car parks, has demanded the use of higher-tech specialized anti-Theft systems to improve the safety and comfort of passengers. In the event of forced access, for instance, vehicle immobilizers notify vehicle owners of a registered telephone number .. The warning also features a photo of the driver and the location of the vehicle. The popularity of immobilizers has grown in all these characteristics. In these revolutionary goods, the industry has been significantly boosting with state of the art technologies including continuous wave and pulse echo algorithms, computer signals microprocessors, tilt and ultrasonic sensors, the closed tool chain for setups and simulation, and rechargeable batteries. Crucial factors of growth on the vehicle anti-theft device market in all regions are the increasing demand for multifactor security and the growing usage of biometric technologies. In addition, government regulations on vehicle safety are also driving growth in different countries. The cost of anti-theft systems is one factor which prevents them from being used.
Engine Immobilizers Continue to Report Highest Demand through 2022
The widespread use of car engine immobilizers illustrates the apparent effectiveness of the anti-theft type of vehicle. In terms of various security steps, the anti-theft device industry provides diverse solutions for automakers. As part of an anti-theft automotive program, both of the leading manufacturers provide the vehicle models with engine immobilizers. Although the pace of development of other vehicle counter-theft solutions, including the central locking, alarms and biometric detection tools, is slightly higher, the most critical turnover in the industry of the automotive anti-theft solutions is expected to take account of engine fixtures by 2022.
Asia-Pacific growth can contribute to such reasons as an increase in population and an increase in automotive production in the region. Over the coming years, Asia-Pacific will likely begin to dominate the global economy. Regions such as North America, Europe, Latin America, Middle East and Africa are projected to follow development in the Asia-Pacific. Throughout countries such as the USA and Canada, the rise of North America is centered. Countries such as United Kingdom, Germany, Spain, France, Italy, Luxembourg, Poland, Holland, Russia, and the Netherlands in the regions of Europe will contribute a significant proportion of the business expansion. Increasing competition on the industry would be driven by Latin American nations such as Brazil, Mexico , Peru and Chile. In the Middle East and African areas South Africa and North Africa will also see substantial development.
Major players included in this report are Continental AG, Robert Bosch GmbH, Tokai Rika, Ltd., Johnson Electric, Lear Corporation, Delphi Automotive LLP, VOXX International Corp., Mitsubishi Electric Corporation, and others. They participate in corporate alliances and fusions and acquisitions of various technology firms constantly to achieve a competitive edge to become the industry leader. The Ford Motor Company & Mahindra Group, for example, have entered into strategic alliances to develop their products in a number of areas, such as electric vehicles, the connected vehicle project and compact SUV development. This cooperation should focus over the forecast period on improving the safety and theft system.
The global vehicle anti-theft system market is segmented as below:
Vehicle Anti-Theft System Market By Component
Vehicle Anti-Theft System Market By Product Type
Biometric Capture Device
Remote Keyless Entry
Vehicle Anti-Theft System Market By Technology
Real-Time Location System
Global Positioning System
Vehicle Anti-Theft System Market By Industry Verticals
Banking Financial Services and Insurance (BFSI)
Vehicle Anti-Theft System Market By Geography
The market value of vehicle anti-theft system is anticipated to be around US$ 20,000 Mn in 2027.
It is anticipated to grow around 7% CAGR in the forecast period 2020-2027
North America held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Rising incidences of vehicle theft resulting in government posing regulations for the safety of vehicles is expected to drive the growth of the vehicle anti-theft system market.
Large costs associated with the products in vehicle anti-theft systems is a major factor expected to restraint the growth of the market.
Continental AG, Robert Bosch GmbH, Tokai Rika, Ltd., Johnson Electric, Lear Corporation, Delphi Automotive LLP, VOXX International Corp., Mitsubishi Electric Corporation and others are the prominent players in the market.